Korean Job Discussion Forums

[espo]

When you send over 10,000,000 home in one year? My KEB account says that if you send home more then 10m a year, the Korean tax agency is notified and you are taxed on anything more.

Anyone have an idea??

[Keeper]

That's the first I heard of that. How much are they going to "tax" you?

[PigeonFart]

I've heard nothing about that either. I recently sent home 20 Million and nobody said anything about that.

Maybe the banker couldn't speak English very well, and meant something else?

[nicwr2002]

There was another post a few weeks or a month ago about this. If I remember correctly, there used to be a limit on sending money home and it was around 10,000 dollars but it was changed to $50,000 or no limit at all. The banker just doesn't know the real facts. I tried to find that thread, but I gave up trying to use google to find it.

[nicwr2002]

I found it

http://forums.eslcafe.com/korea/viewtopic.php?t=226933

There is no yearly limit.

[espo]

Thanks for the info!

[KimchiNinja]

[Brennan]

By send home, do you just mean having a non-Korean bank where all your cheques are deposited? Or do you mean if you're using wire transfers or another method of giving money to someone back home?